• Facing Shortages, Greece Bans Export of Drugs

    • 24 October 2012
    Greece is one of many countries, including the US and Canada, currently experiencing shortages of numerous drugs. But unlike other countries, Greece, which is in the midst of an economic crisis, has taken a novel and potentially controversial approach to solving the problem: it will no longer allow the export of pharmaceutical products from the country. Reuters reports the country's shortages are mainly the result of price slashing that the country has been forced ...
  • Prescribing Brand-Name Medications Criminal Offense Under New Greek Law

    Greece is reportedly banning the prescription of anything other than generic-brand medications , reports The Economist Intelligence Unit . The law, passed along with a series of other austerity measures, aims to curb spending by the country's social insurance funds to $3.8B in 2012. Greece has already run up debts of more than €500M for its drug program alone. "The new law also makes it a criminal offence for doctors to prescribe drugs by brand rather than g...
  • Debt Levels Could Drive Pharma Companies Out

    • 23 February 2012
    Increasing debt at hospitals in Greece are threatening drug supplies and may force some companies out of business, according to a Greek pharmaceutical association. PMLive Intelligence reports the Hellenic Association of Pharmaceutical Companies is warning that hospitals run by the national social security organization in Greece have already run up debts of €500 million. This news comes at a time when the country is seeking a bailout package from the EU to prevent ...